S. 2106 118th Congress Senate

Shelter Act

Official title: A bill to amend the Internal Revenue Code of 1986 to provide a credit against tax for disaster mitigation expenditures.

Introduced: June 22, 2023 Introduced by: Michael F. Bennet Democratic · Colorado See on congress.gov

Taxation

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 22, 2023

Read twice and referred to the Committee on Finance.

Jun 22, 2023

Introduced in Senate

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Latest action June 22, 2023

Read twice and referred to the Committee on Finance.

Plain-English summary Congressional Research Service

Shelter Act

This bill allows individual and business taxpayers a new tax credit for 25% of qualified disaster mitigation expenditures. The credit is limited to $2,500 and $5,000 for individual taxpayers and business taxpayers respectively.

The bill defines qualified disaster mitigation expenditures to include expenditures to modify or improve a dwelling unit located in an area in which a federal natural disaster declaration has been made within the preceding five-year period.

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